Tata Motors, TCS, TCPL, Titan, Tata Power, Tata Steel shares hit hard; here's why

Tata group stocks, led by Tata Consultancy Services Ltd, took a hit in Wednesday's trade after Chairman of Tata Sons, N Chandrasekaran tendered his resignation, ahead of Tata Sons' annual general meeting scheduled for August 18.

Tata Sons is the promoter of TCS, owning 2,59,54,99,419 shares, or 71.74 per cent stake, in the largest domestic IT exporter TCS at the end of June quarter. The group's flagship declined 4.84 per cent to hit a low of Rs 2,322 on BSE. With the latest fall, the sixth-most valued stock on Dalal Street has fallen 27.26 per cent year-to-date. Among other stocks, Tata Motors Passenger Vehicles Ltd (TMPV) fell 2.01 per cent. Tata Consumer Products Ltd fell 1.6 per cent. It was followed by Titan Company Ltd (down 1.22 per cent), Tata Power Company Ltd , 1.09 per cent, Tata Steel Ltd (1.03 per cent) and Indian Hotels Co Ltd (down 0.84 per cent). An index, tracking Tata Group stocks, in fact fell 1.7 per cent today, so far.

Chandrasekaran said the resolution for his reappointment was tabled by the Tata Sons board on February 24, 2026  but the proposal was not carried through because one of the board members did not support it. He probably referred to Noel Tata.

Chandrasekaran said, in the absence of unanimous support, he chose to defer the decision. He said it was six months since that board meeting, and no resolution has been reached till date.

"Tata Sons is a very large institution and there are many strategic projects that are under critical stages of execution. It is not only necessary to have a leader in place to lead the Group beyond February 2027, but also clarity on leadership is important for employees, investors, partners and other stakeholders," he said.

Under these circumstances, Chandrasekaran said he has communicated to the Tata Sons Board that he has decided not to offer himself for reappointment when his term ends on Feb 20, 2027.

Chandrasekaran  said he has asked the Board to decide on the succession soon to ensure a proper transition. "I am grateful for the support of all stakeholders," he said.